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Question: Some American Express money orders were stolen. They had the preprinted signature of Louis Gerstner, the then chairman of American Express, but the amount, payee, and date were blank. Chuckie's, a check cashing business, cashed three of them not knowing they were stolen. However, American Express refused to pay Chuckie's for the money orders. In the ensuing lawsuit, the court had to decide whether the money orders were negotiable. Did the preprinted signature make them signed writings?

Management Theories, Management Studies

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